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Willard Michlin By: Willard Michlin, CPA I was asked by a buyer, last week, “How do you know if a business has good books?” That is a wonderful question. It reminds me of the story of the President of the US. (Not this President exclusively but all Presidents), “How do you know when the … (Click here to continue reading “How do you know if a business has good books?”)
Willard Michlin By: Willard Michlin, CPA A business buyer who owns a business in Mexico was telling me about the corruption in government and business. This buyer had due diligence done on a gift business in Chula Vista and found that the reported profit was 15% different than reported. The buyer was of course … (Click here to continue reading “How Much Error Should a Buyer Expect from a Business Seller’s Financial Reports?”)
Willard Michlin By: Willard Michlin, CPA When buying a business one has to see what is not on the financial documents provided by the seller. To do that you need to graduate the Sherlock Holmes College of Observation. Mr. Holmes was famous for seeing small clues that appeared to other to be meaningless, but … (Click here to continue reading “What are the biggest barriers to doing Due Diligence?”)
Willard Michlin By: Willard Michlin, CPA Gas stations are one of the most wanted businesses by prospective buyers. The reasons being are: They can make a lot of money. The convenience store takes in cash sales Everyone needs to buy gas regardless of the economic climate. There is a lot of room for … (Click here to continue reading “6 Reasons For Performing Due Diligence When Buying A Gas Station”)
Willard Michlin By: Willard Michlin, CPA To the best of my knowledge there are only three experts in California that really understand auto body shops. A few of the key things to know about body shops are: The bulk of the business goes to the shops with multiple insurance contracts. The shops doing less … (Click here to continue reading “What Experts Say About Buying Auto Body Shops – Due Diligence Ideas”)
Willard Michlin By: Willard Michlin, CPA Smog shops can be a very nice business to buy. The dangers of these businesses need to be known. Before you buy, because after you close escrow there is no turning back. Hillary Clinton says it takes a Village to raise a child. I do not know if … (Click here to continue reading “5 Tips For Buying Smog Repair Shops and Why You Should Care”)
Willard Michlin By: Willard Michlin, CPA Today no real estate agent will take the legal liability of having you buy a property without having a complete inspection of the building and a termite report. Why is that? Because too many buyers found out too late that the house had undisclosed problems. Then they sued … (Click here to continue reading “Would you buy a home without an inspection and termite report?”)
Willard Michlin By: Willard Michlin, CPA What I see is that more buyers are becoming motivated to buy than they were earlier. Earlier there was a fear that the economy might worsen after a purchase was made. That fear has subsided because of the positive news about the stockmarket and economic indicators both which … (Click here to continue reading “Why aren’t business buyers making more deals?”)
Willard Michlin By: Willard Michlin, CPA I remember growing up hearing from sellers the following sales pitch for why I should pay them top dollar. “You can get fresh oats for a fair price or you can get oats that have gone through the cow for a lot cheaper.” The other one I heard … (Click here to continue reading “Should you knowingly overpay for a business?”) |
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